Everyone wants to join the NFT craze, but can anyone make an NFT?
In short, yes.
Any person from any country can make an NFT as long as they have access to an NFT marketplace connected with their digital wallet and cryptocurrency to afford gas fees.
However, if things were as simple, everyone and their cat would be posting selfies on OpenSea and hoping someone would pay them $100,000 for their purchase.
Also, while anyone can make an NFT, not everyone can sell one. With thousands of NFTs being posted online every day, It’s not easy to stand out from the digital crowd of unique virtual assets.
This means that choosing a marketplace where your content can stand out is extremely important if you want to make money from selling NFTs online. On top of that, some marketplaces are invite-only, selective of who they let into their midst. One such example is Foundation.
When you create a digital piece of art, such as a video, a song, or a book, you can set it up on an NFT marketplace to turn it into an NFT.
Some marketplaces require you to initialize your account before listing your first NFT for sale, which costs money.
Fees are a reality everyone who wants to join the NFT world should be aware of: minting, selling and promoting all cost money. Making an NFT is definitely an investment.
As long as you have the funds to pay for gas, you should be able to list an NFT. The thing is that gas fees tend to be expensive or, at least, enough of a startup cost that it can discourage some people who don’t see a sizable return on investment.
Several marketplaces have found ways around this, including OpenSea and Rarible. There are alternatives to the Ethereum blockchain that come with cheaper miners’ fees.
Lazy minting basically defers the gas fees usually associated with NFT minting until someone purchases it first. This feature is exclusively present in OpenSea and Rarible.
On the other hand, In Rarible, removing your NFT from sale costs a fee, and all marketplaces charge a fee for every sale you make.
However, you’re not under any obligation to use a marketplace to create an NFT either. While only advised for those well-versed in Metamask and Solidity, you can possibly make a smart contract and strap your NFT to whichever blockchain you prefer.
NFTs should only be created and sold by people who are willing to invest in gas and create quality digital assets to showcase their art.
